California State Teachers Retirement System lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,569 shares of the semiconductor company's stock after selling 4,536 shares during the quarter. California State Teachers Retirement System owned about 0.14% of Qorvo worth $9,340,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Rakuten Securities Inc. purchased a new stake in shares of Qorvo in the fourth quarter valued at approximately $28,000. Huntington National Bank raised its position in shares of Qorvo by 47.1% in the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Qorvo during the 4th quarter valued at approximately $37,000. Venturi Wealth Management LLC boosted its position in Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 250 shares during the period. Finally, CENTRAL TRUST Co increased its position in Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock valued at $53,000 after acquiring an additional 734 shares during the period. Institutional investors and hedge funds own 88.57% of the company's stock.
Insider Transactions at Qorvo
In other Qorvo news, Director John R. Harding sold 1,450 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total value of $101,630.50. Following the sale, the director now owns 7,597 shares in the company, valued at $532,473.73. This trade represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.46% of the company's stock.
Qorvo Trading Down 0.0%
QRVO traded down $0.03 on Wednesday, reaching $79.23. 2,400,317 shares of the company's stock were exchanged, compared to its average volume of 2,225,901. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $130.99. The company's 50 day moving average is $68.23 and its 200-day moving average is $71.94. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 282.96, a PEG ratio of 15.57 and a beta of 1.38.
Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.42. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The firm had revenue of $869.47 million for the quarter, compared to the consensus estimate of $850.13 million. During the same period in the previous year, the firm posted $1.39 earnings per share. The firm's revenue was down 7.6% on a year-over-year basis. Equities analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on QRVO. Benchmark raised Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a report on Wednesday, April 30th. TD Cowen reduced their target price on Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Loop Capital lowered their price target on shares of Qorvo from $90.00 to $75.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Needham & Company LLC cut their price target on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $91.21.
Read Our Latest Report on Qorvo
About Qorvo
(
Free Report)
Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.
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